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Current as of January 01, 2023 | Updated by FindLaw Staff
Subdivision 1. Functions. The Minnesota Life and Health Insurance Guaranty Association shall perform its functions under the plan of operation established and approved under section 61B.25, and shall exercise its powers through a board of directors. The association is not a state agency for purposes of chapter 16A, 16B, 16C, or 43A. For purposes of administration and assessment, the association shall establish and maintain two accounts:
(1) the life insurance and annuity account which includes the following subaccounts:
(i) the life insurance account;
(ii) the annuity account; and
(iii) the unallocated annuity account; and
(2) the health account.
Subd. 2. Supervision by commissioner of commerce. The association is under the immediate supervision of the commissioner and is subject to the applicable provisions of the insurance laws of this state.
Cite this article: FindLaw.com - Minnesota Statutes Insurance (Ch. 59A-79a) § 61B.21. Minnesota Life and Health Insurance Guaranty Association - last updated January 01, 2023 | https://codes.findlaw.com/mn/insurance-ch-59a-79a/mn-st-sect-61b-21/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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